Cotton Market Update: Futures Show Mixed Movements Amid External Factors

Friday’s Cotton Price Trends

Cotton prices have experienced losses ranging from 20 to 22 points as of Friday morning. Despite this, Thursday’s futures showed gains between 27 to 37 points as traders prepared for upcoming reports. External influences, however, presented a mixed picture, with the US dollar index increasing by 84 points, and crude oil prices climbing by $0.97 per barrel.

Delayed Export Sales Report

The weekly Export Sales report has been postponed to Friday due to government closures for a National Day of Mourning honoring President Carter’s funeral.

Sales and Stock Data

On January 7, a total of 9,804 bales were sold online at an average price of 61.64 cents per pound, according to The Seam. ICE cotton stocks remained stable on Wednesday, holding steady at 20,113 bales of certified stock. The Cotlook A Index saw a decrease of 10 points on January 8, landing at 78.95 cents per pound. In contrast, the USDA Adjusted World Price (AWP) saw an increase of 48 points from the previous week, reaching 55.03 cents per pound last Thursday.

Current Cotton Futures

For March 25, cotton closed at 68.5 cents, up 27 points but currently down 22 points. May 25 cotton finished at 69.68 cents, up 31 points but now down 20 points. Lastly, July 25 cotton closed at 70.77 cents, having risen by 37 points, yet is currently down 22 points.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.